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MIRA
INFORM REPORT
|
Report Date : |
12.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
BLASTRITE (PTY) LTD |
|
|
|
|
Registered Office : |
2
Long Street, 16th Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
14.07.1981 |
|
|
|
|
Com. Reg. No.: |
M1981/006731/07 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacture
of Abrasives |
|
|
|
|
No of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
SOUTH AFRICA - ECONOMIC
OVERVIEW
South Africa is a middle-income, emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors and a stock exchange that is the 16th largest in the world. Even though the country's modern infrastructure supports a relatively efficient distribution of goods to major urban centers throughout the region, unstable electricity supplies retard growth. The global financial crisis reduced commodity prices and world demand. GDP fell nearly 2% in 2009 but has recovered since then, albeit slowly with 2014 growth projected at about 2%. Unemployment, poverty, and inequality - among the highest in the world - remain a challenge. Official unemployment is at nearly 25% of the work force, and runs significantly higher among black youth. Eskom, the state-run power company, has built two new power stations and installed new power demand management programs to improve power grid reliability. Construction delays at two additional plants, however, mean South Africa is operating on a razor thin margin; economists judge that growth cannot exceed 3% until those plants come on line. South Africa's economic policy has focused on controlling inflation, however, the country has had significant budget deficits that restrict its ability to deal with pressing economic problems. The current government faces growing pressure from special interest groups to use state-owned enterprises to deliver basic services to low-income areas and to increase job growth.
|
Source
: CIA |
Company Name
|
Subject
Name |
BLASTRITE
(PTY)LTD |
|
Country |
South
Africa |
|
Subject
Contact Person |
JASON - FINANCIAL MANAGER, SHAUN - CREDIT
ADMINISTRATOR, MELLISA - PROCUREMENT SUPERVISOR - 0214171700 |
|
Assessment |
On
investigation contact was made with JASON the financial manager, SHAUN the
credit administrator and MELLISA the procurement supervisor who declined to
assist with all of the required information. The subject requested the name
of the principal enquirer before they may divulge any further information.
Please see the available information on the subject below. |
Company Information
|
Registered
Name |
BLASTRITE
(PTY)LTD |
|
Trading
as/ Division Name |
BLASTRITE |
|
Previous
Name |
None |
|
Date
of Name Change |
None |
|
Registration
Number |
M1981/006731/07 |
|
Registration
Date |
1981/07/14 |
|
Date
Commenced Trading |
1981-07-14 |
|
Age
of Business |
33
Years 2 Months |
|
History
of Business |
The
company is in operation for the past 33 Years and 2 Months. |
|
History
of Principals |
There
are 4 active directors within the company. |
|
Shareholders/Members/Partners
of subject and % holding |
Declined |
|
Authorised
Share Capital |
-- |
|
Issued
Share Capital/Members Contribution |
-- |
|
Status |
In
Business |
|
Operations
Assessment |
The
subject main operation is to manufacture grid for abrasive media. |
|
Industry/
Customers |
The
subject supply's to the media industry. |
|
Export |
Yes |
|
Export
Countries |
-- |
|
Import |
Yes |
|
Import
Countries |
-- |
|
Major
Industry Code / SICC |
34291 |
|
Definition
of Code |
Manufacture
of Abrasives |
|
Head
Office Physical Address |
2
LONG STREET, 16TH FLOOR, CAPE TOWN, 8001 |
|
Head
Office Postal Address |
PO
BOX 5515, CAPE TOWN, 8000 |
|
Current
Tel Number |
0214171700 |
|
Cell
Number |
0834854914 |
|
Current
Fax Number |
0214252341 |
|
Current
Email Address |
|
|
Web
Site Address |
|
|
Comments |
-- |
Auditors Information
|
Company
Registered Name |
RSM BETTY AND DICKSON FIDUCIARY AND TAX
SERVICES (CAPE TOWN) (PTY)LTD |
|
Trading
Name |
RSM
BETTY AND DICKSON FIDUCIARY (CAPE TOWN) |
|
Registration
Number |
M2000/003146/07 |
|
Physical
Address |
15
GREENWICH GROVE, STATION ROAD, RONDEBOSCH, 7700 |
|
Postal
Address |
PO
BOX 578, RONDEBOSCH, 7701 |
|
Contact
Person |
CHERYL
CLASSEN |
|
Contact
Number |
0216867890 |
|
Email |
|
|
Principals |
1 |
|
Judgements
Against Subject |
None
On Record |
|
Judgements
Against Principals |
None
On Record |
|
Subject
Verified as Client |
Yes |
|
Practice
Number |
958069 |
|
VAT
Number |
Unavailable |
|
Tax
Number |
9706034148 |
|
BEE
Status |
Unavailable |
|
Financial
Year End |
December |
|
No
of years in Business |
14
Years 7 Months |
|
Website |
|
|
Comment |
-- |
Previous Auditors Information - No Information on
Record
Tax Information
|
Vat
Number |
4760116162 |
|
Status |
ACTIVE |
|
Vat
Liable Date |
2014/08/29 |
|
Tax
Number |
9090095036 |
|
Tax
Clearance Expire Date |
|
|
Financial
Year End |
February |
|
Comment |
|
Black Economic
Empowerment
|
Status |
Yes |
|
Score |
4.00 |
|
Expire
Date |
|
|
BEE
Certificate Available |
No |
|
Comment |
-- |
ISO Information - No Information on Record
Workman's compensation
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
|
Comment |
-- |
Company Structure
Subsidiaries Information - No Information on Record
Employees Information - No Information on Record
Company Fleet Information - No Information on Record
Offices Information - No Information on Record
Branch Information - No Information on Record
Management Overview
Organisation Chart
|
Level |
Position |
Name |
Comment |
|
|
|||
|
1 |
Director |
PIETER ANDRIES HUYSAMEN |
|
|
|
|||
|
1 |
Director |
GAVIN GERALD KELMAN |
|
|
|
|||
|
1 |
Director |
ANDREW MICHEAL |
|
|
LASHBROOK |
|
||
|
|
|||
|
1 |
Director |
JOHN DOUGLAS HALDANE |
|
Company Structure Information - No Information on Record
Note: One
level up and all levels down
Key Deals – No
Information on Record
Trade Reference Information – No information on
Adverse Information on
Subject
Judgements - No information on record
Business Rescue - No Information on Record
Default Listing - No information on record Notarial
Bonds - No
information on record
Bank Information - No Information on Record
Bank Code History -
No Information on Record
Previous Bank Account Information - No Information on Record
Deeds Information
Property Interests
for Company BLASTRITE (PTY) LTD
|
Title
Deed No. |
T38941/2003 |
Erf/Site
No. |
303 |
|
Deeds
Office |
PRETORIA |
Physical
Address |
RUSTENBURG
RURAL |
|
Property
Type |
Farms |
Extent
/ Size |
|
|
Purchase
Date |
2002/02/28 |
Purchase
price |
R
200000.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
|
|
Bond
Number |
|
Bond
Amount |
R
0.00 |
|
Comment |
|
||
|
|
|||
|
Title
Deed No. |
T38942/2003 |
Erf/Site
No. |
303 |
|
Deeds
Office |
PRETORIA |
Physical
Address |
RUSTENBURG
RURAL |
|
Property
Type |
Farms |
Extent
/ Size |
|
|
Purchase
Date |
2001/02/28 |
Purchase
price |
R
8177.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
|
|
Bond
Number |
|
Bond
Amount |
R
0.00 |
|
Comment |
|
||
Principals
|
Number
of Principals |
5 |
|
Average
Age of Active Principals |
57 |
|
Active
Principals Active
Principal - 1 of 5 PIETER
HUYSAMEN |
|
|
Surname |
HUYSAMEN |
|
First
Name |
PIETER |
|
Other
Names |
ANDRIES |
|
Marital
Status |
- |
|
ID
Number |
6911225145087 |
|
Verified
ID Number |
Yes |
|
Current
Age |
44
Years 10 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2009/04/30 |
|
Physical
Address (at time of Appointment) |
4
MILKWOOD CRESCENT, SANDOWN ESTATE, BIG BAY, 7441 |
|
Postal
Address |
P
O BOX 5515, CAPE TOWN, 8000 |
|
Current
Tel Number |
0214472514 |
|
Cell
number |
0847057013 |
|
Shareholding/Membership |
0.00 |
Principal’s Adverse – No information on record
Business Information for PIETER HUYSAMEN
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
AQUAJET S A (PTY)LTD |
M1996/004283/07 |
Deregistration
Final |
18 Years 6 Months |
0 |
No |
|
|
BLASTRITE
(PTY)LTD |
M1981/006731/07 |
In
Business |
33 Years 9 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of previous Business: 19 Years
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
AQUA JET TECHNOLOGIES (PTY)LTD |
M2004/009949/07 |
Deregistration
Process |
10 Years 10 Months |
0 |
No |
|
|
MUEHLHAN
(SOUTH AFRICA) (PTY)LTD |
M1985/004141/07 |
Deregistration
Final |
29 Years 5 Months |
0 |
No |
|
Principal
Deeds Information
|
Property Interests for PIETER
HUYSAMEN |
|||
|
Title
Deed No. |
T53455/1994 |
Erf/Site
No. |
1360 |
|
Deeds
Office |
CAPE
TOWN |
Physical
Address |
23
TURQUOISE NOORDHOEK |
|
Property
Type |
F |
Extent
/ Size |
1035.00000000 |
|
Purchase
Date |
1994/06/17 |
Purchase
price |
R
69500.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
CAPE
OF GOOD HOPE BANK LTD |
|
Bond
Number |
B720591997 |
Bond
Amount |
R
490000.00 |
|
Comment |
|
||
|
Property Interests for PIETER
HUYSAMEN |
|||
|
Title
Deed No. |
T55485/2007 |
Erf/Site
No. |
603 |
|
Deeds
Office |
CAPE
TOWN |
Physical
Address |
4
MILKWOOD SANDOWN ESTATE BLOUBERG |
|
Property
Type |
E |
Extent
/ Size |
|
|
Purchase
Date |
2007/04/15 |
Purchase
price |
R
840000.00 |
|
%
Ownership |
0.00 |
Bond
Holder |
A
B S A BANK LTD |
|
Bond
Number |
B660632007 |
Bond
Amount |
R1200000.00 |
|
Comment |
|
||
Active Principal - 2 of 5
GAVIN KELMAN
|
Surname |
KELMAN |
|
First
Name |
GAVIN |
|
Other
Names |
None |
|
Marital
Status |
- |
|
ID
Number |
6805025034089 |
|
Verified
ID Number |
Yes |
|
Current
Age |
46
Years 4 Months |
|
Designation |
FINANCIAL
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
2006/09/01 |
|
Physical
Address (at time of Appointment) |
16TH
FLOOR, NO 2 LONG STREET, CAPE TOWN, 8001 |
|
Postal
Address |
P
O BOX 5515, CAPE TOWN, 8000 |
|
Current
Tel Number |
- |
|
Cell
number |
- |
|
Shareholding/Membership |
0.00 |
Principal’s Adverse – No Information on record
Business
Information for GAVIN KELMAN
Principal Current Business Interests
|
Company
Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
BLASTRITE
(PTY)LTD |
M1981/006731/07 |
In
Business |
33 Years 9 Months |
0 |
No |
|
|
COMPUTER
NETWORKS CAPE (PTY)LTD |
M1989/005505/07 |
Deregistration
Final |
25 Years 1 Months |
1 |
No |
|
|
ERAKIS INVESTMENTS
(PTY)LTD |
K2013/022914/07 |
In
Business |
1 Years 1 Months |
0 |
No |
|
|
HALDANE AND ASSOCIATES (PTY)LTD |
M1973/001622/07 |
Deregistration
Final |
41 Years 5 Months |
0 |
No |
|
|
MINRITE
(PTY)LTD |
K2013/082779/07 |
In
Business |
1 Years 1 Months |
0 |
No |
|
Active Principal - 3 of 5
ANDREW LASHBROOKE
|
Surname |
LASHBROOKE |
|
First
Name |
ANDREW |
|
Other
Names |
Unavailable |
|
Marital
Status |
|
|
ID
Number |
6611255039081 |
|
Verified
ID Number |
Yes |
|
Current
Age |
47
Years 10 Months |
|
Designation |
CEO |
|
Status |
Active |
|
Appointment
Date |
2006/09/01 |
|
Physical
Address (at time of Appointment) |
NO
3 THE AVENUE, SILVERHURST ESTATE, CONSTANTIA MAIN ROAD, CONSTANTIA, 7806 |
|
Postal
Address |
PO
BOX 187, CONSTANTIA, CONSTANTIA, 7800 |
|
Current
Tel Number |
0217941845 |
|
Cell
number |
0827796079 |
|
Shareholding/Membership |
0.00 |
Principal’s Adverse – No Information on record
Business Information for ANDREW LASHBROOKE
Principal Current Business Interests
|
Company
Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
BLASTRITE (PTY)LTD |
M1981/006731/07 |
In Business |
33
Years 9 Months |
0 |
No |
|
|
ERAKIS INVESTMENTS
(PTY)LTD |
K2013/022914/07 |
In Business |
1
Years 1 Months |
0 |
No |
|
|
MINERAL SANDS RESOURCES (PTY)LTD |
M2001/016755/07 |
In Business |
13
Years 1 Months |
0 |
No |
|
|
MINRITE
(PTY)LTD |
K2013/082779/07 |
In Business |
1
Years 1 Months |
0 |
No |
|
|
MRC METALS (PTY)LTD |
M2003/010880/07 |
In Business |
11 Years 11 Months |
0 |
No |
|
|
MRC
RESOURCES (PTY)LTD |
M2001/008710/07 |
In Business |
13
Years 1 Months |
0 |
No |
|
|
SILVERHURST
ESTATE HOME OWNERS ASSOCIATION |
M1991/001082/08 |
In Business |
23
Years 11 Months |
0 |
No |
|
|
TORMIN MINERAL SANDS (PTY)LTD |
M2005/024160/07 |
In Business |
9
Years 9 Months |
0 |
No |
|
|
TRANSWORLD
ENERGY AND MINERALS RESOURCES
(SA) (PTY)LTD |
M1999/013621/07 |
In Business |
15
Years 3 Months |
1 |
No |
|
Average Age of Previous Business 29
Years
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
A
M L IMPORTS CC |
B1996/027913/23 |
Deregistration
Process |
18 Years 6 Months |
0 |
No |
|
|
PICK
N PAY RETAILERS (PTY)LTD |
M1973/004739/07 |
In
Business |
41
Years 5 Months |
2 |
No |
|
Active Principal - 4 of 5
JOHN HALDANE
|
Surname |
HALDANE |
|
First
Name |
JOHN |
|
Other
Names |
DOUGLAS |
|
Marital
Status |
|
|
ID
Number |
3910260000000 |
|
Verified
ID Number |
No |
|
Current
Age |
74
Years 11 Months |
|
Designation |
DIRECTOR |
|
Status |
Active |
|
Appointment
Date |
1981/07/14 |
|
Physical
Address (at time of Appointment) |
PAGASVLEI,
PAGASVLEI ROAD, CONSTANTIA, CAPE TOWN, 7800 |
|
Postal
Address |
P
O BOX 5515, CAPE TOWN, 8001 |
|
Current
Tel Number |
|
|
Cell
number |
|
|
Shareholding/Membership |
0.00 |
Principal’s Adverse – No Information on record
Business Information for JOHN HALDANE
Principal Current Business Interests
|
Company
Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
BLASTRITE
(PTY)LTD |
M1981/006731/07 |
In
Business |
33 Years 9 Months |
0 |
No |
|
|
HALDANE AND ASSOCIATES (PTY)LTD |
M1973/001622/07 |
Deregistration
Final |
41 Years 5 Months |
0 |
No |
|
Principal Previous Business Interests
Average age of Previous Business - 10 Years
|
Company Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
AQUA JET TECHNOLOGIES (PTY)LTD |
M2004/009949/07 |
Deregistration
Process |
10
Years 10 Months |
0 |
No |
|
Active Principal - 5 of 5
JOHN HALDANE
|
Surname |
HALDANE |
|
First
Name |
JOHN |
|
Other
Names |
|
|
Marital
Status |
|
|
ID
Number |
3910265070000 |
|
Verified
ID Number |
Yes |
|
Current
Age |
74
Years 11 Months |
|
Designation |
DOUGLAS |
|
Status |
Active |
|
Appointment
Date |
1981/07/14 |
|
Physical
Address (at time of Appointment) |
16TH
FLOOR, NO 2 LONG STREET, CAPE TOWN, 8001 |
|
Postal
Address |
P
O BOX 5515, CAPE TOWN, 8001 |
|
Current
Tel Number |
0214171700 |
|
Cell
number |
|
|
Shareholding/Membership |
0.00 |
Principal’s Adverse – No Information on record
Business Information for JOHN HALDANE
Principal Current Business Interests
|
Company
Name |
Registration No |
Status |
Age
of Business |
Judgements |
Liquidation |
Comment |
|
BLASTRITE
(PTY)LTD |
M1981/006731/07 |
In
Business |
33
Years 9 Months |
0 |
No |
|
|
DIAZ PADRONE ESTATES (PTY)LTD |
M1988/001893/07 |
In
Business |
26
Years 2 Months |
0 |
No |
|
|
DOMANE PROPERTY
INVESTMENTS (PTY)LTD |
M1991/000942/07 |
Deregistration
Process |
23
Years 11 Months |
0 |
No |
|
|
ERAKIS INVESTMENTS
(PTY)LTD |
K2013/022914/07 |
In
Business |
1
Years 1 Months |
0 |
No |
|
|
HERACLES
INVESTMENTS CC |
B1992/018851/23 |
|
22 Years 10 Months |
0 |
No |
|
|
JOHN HALDANE
(PTY)LTD |
M1972/003016/07 |
In
Business |
42
Years 6 Months |
0 |
No |
|
|
MINRITE
(PTY)LTD |
K2013/082779/07 |
In
Business |
1
Years 1 Months |
0 |
No |
|
|
SUPAGRIT (PTY)LTD |
M1993/006035/07 |
Deregistration
Final |
21
Years 9 Months |
0 |
No |
|
|
THE CARNABY HOTEL (PTY)LTD |
M1997/012162/07 |
Deregistration
Final |
17
Years 5 Months |
2 |
No |
|
|
TRAKPROPS
62 (PTY)LTD |
M1997/002535/07 |
Deregistration
Process |
17
Years 5 Months |
0 |
No |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.92 |
|
UK Pound |
1 |
Rs.98.66 |
|
Euro |
1 |
Rs.78.64 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial condition
(40%) Ownership background
(20%) Payment record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.